Massive Amount of Capital Awaits Crypto ETFs, Says Joseph Lubin
The CEO of Consensys and co-founder of Ethereum, Joseph Lubin, believes that there is a significant amount of sidelined capital waiting for the arrival of crypto exchange-traded funds (ETFs). In an interview with CNBC, Lubin stated that there are hundreds of billions of dollars in the hands of professionals in the traditional finance industry who are eagerly waiting for regulated exposure to digital assets through ETFs.
Lubin emphasized that retirement funds, registered investment advisors (RIAs), and companies are among those looking to gain exposure to uncorrelated assets or digital asset classes. He noted that speculators within the crypto industry have already anticipated the launch of Bitcoin ETFs and are also hoping for an Ethereum ETF. However, the key point is that there is a massive amount of money on the sidelines waiting to enter and gain exposure to this asset class.
Ethereum: A Strong Contender for ETF Approval
While the Securities and Exchange Commission (SEC) does not directly disclose its plans or intentions to the Ethereum Foundation, Lubin believes that after Bitcoin, Ethereum is likely to be the next best candidate for an ETF approval from the regulator. He highlighted that Ethereum has a mature and deep ecosystem as a platform for decentralized applications. With extensive infrastructure and global activity, it presents itself as a prime candidate alongside Bitcoin. In comparison, although Solana is a great technology, it is not yet a mature ecosystem.
Hot Take: Massive Capital Awaits Crypto ETFs
Consensys CEO Joseph Lubin asserts that there is a vast amount of sidelined capital in traditional finance waiting for regulated exposure to digital assets through crypto exchange-traded funds (ETFs). Retirement funds, registered investment advisors (RIAs), and companies are among those seeking exposure to uncorrelated assets. Lubin believes that Ethereum, with its mature and deep ecosystem, is likely the next best candidate for an ETF approval from the SEC after Bitcoin. He notes that there is a tremendous amount of money waiting to enter the market and gain exposure to this asset class.
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